Apple Hospitality REIT, Inc. $APLE Shares Sold by Strs Ohio

Key Points

• Strs Ohio reduced its stake in Apple Hospitality REIT by 8.6% in the first quarter, selling 86,200 shares and ending with 911,734 shares valued at about $10.5 million.
• Apple Hospitality REIT reported solid quarterly results, with earnings of $0.12 per share beating estimates and revenue of $337.74 million topping expectations.
• The company announced a monthly dividend of $0.08 per share, implying an annualized yield of 5.8%, while analysts currently have a consensus rating of Hold with a $14.94 target price.

Strs Ohio decreased its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 911,734 shares of the real estate investment trust's stock after selling 86,200 shares during the period. Strs Ohio owned about 0.39% of Apple Hospitality REIT worth $10,494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in APLE. NewEdge Advisors LLC boosted its stake in shares of Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after buying an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new stake in Apple Hospitality REIT during the third quarter worth about $36,000. Godfrey Financial Associates Inc. purchased a new position in Apple Hospitality REIT in the fourth quarter valued at about $43,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Apple Hospitality REIT by 97.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Down 0.1%

Shares of NYSE APLE opened at $16.62 on Monday. The firm has a market cap of $3.92 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 8.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. Apple Hospitality REIT, Inc. has a 1 year low of $10.85 and a 1 year high of $17.06. The firm's 50 day moving average price is $15.11 and its 200 day moving average price is $13.18.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Apple Hospitality REIT's dividend payout ratio is currently 131.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APLE shares. Cantor Fitzgerald lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Barclays upped their price target on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 1st. BMO Capital Markets increased their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, June 12th. Finally, LADENBURG THALM/SH SH raised their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.94.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.90% of the company's stock.

Apple Hospitality REIT Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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